corporate finance Top education team hits the


road to success Education sector accountancy experts from Whitley Stimpson are taking part in three top-flight education-sector conferences in the next few months, starting with the Academies Show at the Birmingham NEC


Whitley Stimpson director Andy Jones explained: “The education sector is constantly changing and evolving at present, and we are continuing to show how our knowledge and expertise can help academies keep pace with these changes.”


The company advises more than 25 standalone and multi- academy trusts nationally and has continued to build up its specialist team to cover the audit and assurance compliance reporting for the Education and Skills Funding Agency. The team also advises academies on a wider range of finance and governance matters.


Jones continued: “Although


we are continuing to see the growth and development of multi-academy trusts, there is also now an emphasis on improving underperforming schools, which brings with it a number of challenges. We are also continuing to see an increase in mergers between academy trusts and transfers of academies between trusts. With this brings the need for strong due diligence on both sides as well as the need to structure growing multi- academy trusts efficiently.”


Whitley Stimpson’s education team will also be attending the Academies Event 2018 on February 28 at the AJ Bell Stadium, Manchester, where the focus of the


event is on what the future holds for existing academies and schools considering converting to academy status.


The team will then be attending the Oxfordshire Academies Business Managers Conference at the Kassam Stadium, Oxford, on March 6, 2018, where they are also sponsoring the evening reception and drinks.


Jones said: “We are really looking forward to taking to the road again after several successful years at other conferences. It’s always interesting to hear firsthand what academies, business leaders and governors are most concerned about. It’s not just about us advising


them – it’s about us listening to them so we can offer the best support.”


For further details of Whitley Stimpson education services or events contact Andy Jones:


01295 270200 andyj@whitleystimpson.co.uk


Corporate activity stimulates commercial property market


There has been an increase in corporate activity in Greater London and the South East, with private equity, venture capital and merger and acquisition activity exceeding more than £59 billion since 2015, reports Savills.


The firm has analysed the relationship between corporate investment and the subsequent impact on corporate property needs and the research “clearly demonstrates an ensuing period of business expansion resulting in an overall uptick in real estate requirements for the region”.


Savills research shows that in this time period, the western sector of the M25 office market, most notably the towns of Slough, Bracknell and Windsor, has seen the highest amount of investment totalling £29b, equating to 48% of the M25 market. Examples of large


14 businessmag.co.uk


corporate transactions in 2017 include Reckitt Benckiser, Vocalink, Affinity Water and E2V Technologies, which combined have seen up to £5.4b of funding.


The two stand-out business sectors for corporate investment since 2015 have been technology and manufacturing, raising £29.1b and £8.8b respectively. In direct correlation, Savills notes that these sectors have also been the most active in the occupational market, based upon the regions five-year average take-up, accounting for 17% and 21% of total space transacted.


Simon Preece, associate in the commercial research team at Savills, said: “In particular, the technology sector has continued to expand in the region, most notably in the Thames Valley. For example, Reading now has the largest digital cluster in the UK, which is supported


by the highly skilled resident labour force and excellent public transport connections to London making it a strong location for venture capitalists and private equity investors to explore.”


Savills suggests that developers and investors could potentially capitalise on the high levels of investment activity by speculatively developing in the market, especially as financial backing continues to drive demand. For instance, following £60.9 million of funding into drug development start-up Autolus this year, the firm now has a requirement to double its office space in White City, west London from 15,000 to 36,000 sq ft.


Despite this, there is limited speculative development taking place. This is most notable in the northern and southern M25 sectors, where only four schemes have been


announced or are currently under construction.


Savills reports that this could create a problem in the medium term, considering that £31b has been invested into companies in these regions since 2015. Furthermore, with prelet deals extremely rare in the market, the long-term average is just 0.9%, the case for speculative development becomes stronger still.


Jon Gardiner, head of national office agency, added: “It is absolutely crucial that there is sufficient office space available that will allow these companies to prosper. In certain smaller markets there has been limited amounts of development which has resulted in companies having to relocate in order to expand. If there continues to be a lack of good quality supply, then it is likely to hinder further employment and economic growth.”


THE BUSINESS MAGAZINE – DECEMBER 2017


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